H.C. Wainwright & Co. equity analyst Swayampakula Ramakanth, Ph.D. has initiated coverage of IntelGenx Technologies Corp. (IntelGenx) with a buy rating and a target price of $2.00. IntelGenx is partnered with the Company to develop PTL-202 the Company's clinical stage therapy for Idiopathic Pulmonary fibrosis (IPF). The Company and IntelGenx have formulated PTL-202 utilizing the VersaTab technology from IntelGenx.

IntelGenx's Multilayer Tablet: VersaTab

The H.C. Wainwright & Co. report states "IntelGenx has developed a proprietary multilayer tablet technology called VersaTab. VersaTab has the advantage of a higher capacity to load larger amounts of drug that is needed in once-daily formulations. The technology is also versatile enough to have multiple APIs that can be released at different rates. In addition, the technology allows for a cost savings of 50% compared to other oral delivery technologies."

The Company's strategy includes reformulating approved drugs to increase efficacy and patient compliance, while reducing side effects, as well as completing the further clinical testing, manufacturing and other regulatory requirements sufficient to seek marketing authorizations. This strategy may reduce the risk, time and cost of developing therapies by avoiding the risks associated with basic research and using compounds with unknown safety and toxicity profiles.

Pacific Therapeutics Ltd. lead drug candidate for fibrosis (progressive scarring of the organ), PTL-202 is a combination of an FDA approved drug and an amino acid and an extremely potent and important antioxidant. The Company has completed an initial clinical trial of the combination with positive results.

"It's estimated that 45 % of all deaths are related to fibrotic changes" World Health Organization Feb, 2008.

Worldwide, there are over 5,000,000 people living with Idiopathic Pulmonary Fibrosis (IPF), (IPF Coalition). IPF therapy sales across the US, France, Germany, Italy, Spain, and the UK are forecast to rise to over $1.1 billion by 2017, at a Compound Annual Growth Rate (CAGR) of 86.6% (RnR Market Research, 2013). IPF kills more patients per year than either prostate or breast cancer.

IntelGenx is a drug delivery company focused on the development of oral controlled-release products as well as novel rapidly disintegrating delivery systems. IntelGenx uses its unique multiple layer delivery system to provide zero-order release of active drugs in the gastrointestinal tract. IntelGenx has also developed novel delivery technologies for the rapid delivery of pharmaceutically active substances in the oral cavity based on its experience with rapidly disintegrating films. IntelGenx' development pipeline includes products for the treatment of indications such as severe depression, hypertension, erectile dysfunction, migraine, insomnia, CNS indications, idiopathic pulmonary fibrosis, oncology and pain, as well as animal health products. More information is available about the company at Www.Intelgenx.Com.

All reports on IntelGenx prepared by analysts represent the views of such analysts and are not necessarily those of IntelGenx. IntelGenx is not responsible for the content, accuracy or timelines provided by analysts.

Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Readers should not place undue reliance on the Company's forward-looking statements, as the Company's actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize. The Company does not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws.